_______ are the terms of sale offered by different suppliers in response to the purchase specifications posted by the buyer.

Question

Quizplus · Accepted Answer

Competitive bids are the terms offered by suppliers in response to the buyer's purchase specifications, allowing them to compete with each other based on price, quality, delivery time, and other factors. Purchasing rebuys refer to the process of buying a product or service that has been purchased before, and legal bonds and requisitions are not related to the process of obtaining bids from suppliers. Reverse auctions involve suppliers bidding down the price in real time, but this is not mentioned in the question stem.

_______ Are the Terms of Sale Offered by Different Suppliers